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Bitcoin technical analysis: BTC/USD large vulnerabilities with price trading under $10,000

  • Bitcoin price in the session on Thursday is trading with losses of some 2.90%.
  • BTC/USD is now trading at seven consecutive sessions in the red, as the bears maintain control. 
  • The price trading under $10,000 creates much in the way of vulnerabilities for Bitcoin.
Bitcoin technical analysis: BTC/USD large vulnerabilities with price trading under $10,000
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  9865.98

Relative change:      -2.90%

High:                         10,182.54

Low:                          9606.35

BTC/USD daily chart

  • BTC/USD price is heading for its seventh straight session trading in the red. 

BTC/USD 60-minute chart

  • Price broke out from a narrowing range blog formation and is now consolidating within a bearish pennant structure.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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